{"id":120151,"date":"2021-04-07T08:19:54","date_gmt":"2021-04-07T08:19:54","guid":{"rendered":"https:\/\/precoinnews.com\/?p=120151"},"modified":"2021-04-07T08:19:54","modified_gmt":"2021-04-07T08:19:54","slug":"buyout-firm-genstar-raises-over-10-billion-for-tenth-midmarket-fund","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/buyout-firm-genstar-raises-over-10-billion-for-tenth-midmarket-fund\/","title":{"rendered":"Buyout firm Genstar raises over $10 billion for tenth midmarket fund"},"content":{"rendered":"
(Reuters) – Genstar Capital, which is focused on investments in financial services, healthcare, industrials and software industries, said on Monday it had raised more than $10 billion for its tenth flagship fund.<\/p>\n
The announcement comes less than two years after the buyout firm raked in $7 billion for its ninth fund.<\/p>\n
U.S. private equity fundraising dropped to $203.2 billion in 2020 from its record high of $320.5 billion in 2019, according to data from Pitchbook, underscoring investor apprehension towards record high buyout prices.<\/p>\n
With $33 billion of assets under management, San Francisco-based Genstar primarily focuses on midmarket companies. Its portfolio includes proxy advisory firm Institutional Shareholder Services, software vendor Bullhorn and digital video software provider Telestream.<\/p>\n
Besides $10.2 billion for the most recent fund, named Fund X, Genstar also raised about $1.5 billion for an additional vehicle that will be used to co-invest in larger deals, the company said.<\/p>\n